Warner Bros. Discovery announces major corporate restructuring to separate streaming from cable
1. WBD will split into studios/streaming and cable TV firms to enhance competition. 2. CEO Zaslav will lead the streaming and studios entity post-split. 3. The split, a tax-free transaction, aims to be completed by mid-2026. 4. WBD launched debt restructuring amid plans to reduce overall liabilities. 5. Shares rose 8% following the announcement of the split.